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EURUSD – Fifth wave might be underway – October 21st, 2020

EUR/USD, 12H chart. No change. The market has been rising since wave (C) of ((B)) finished. It seems like we’re going to have an upward impulse, which is supposed to be wave (1). Considering a pullback from the channel’s lower side, the pair is likely going to continue moving up in the coming days towards the high of wave 3.

EUR/USD, 60Minutes chart. The market has been rising since a pullback from the 0.618 retracement level happened. The high of wave ((i)) has been broken, which brings more evidence for the bullish scenario. In this case, the third-wave advance is likely going to be confined in the coming hours.

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